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Your World With Neil Cavuto

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Sandy 9, New York 7, Christie 6, Washington 4, Karl Rove 4, Romney 4, Fema 3, Chicago 3, Judge Napolitano 3, Lifelock 3, New Jersey 3, Chris Christie 3, Cleveland 2, New York City 2, Avon 2, Manhattan 2, Neil 2, Geico 2, Atlantic City 2, Minnesota 2,
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  FOX News    Your World With Neil Cavuto    News/Business. Money tips  
   from Wall Street. New. (CC)  

    October 30, 2012
    4:00 - 5:00pm EDT  

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real mess. so it is just going. we will be here with you and for you and we help you stay tuned. i am shepard smith for all those in the path of the storm our best to you. our coverage continues now with neil cavuto. >>neil: just say sandy is not over. you are looking live at lake erie in cleveland where the waves are battering against a major highway. it will get worse. for that area, tone, -- tonight, a lot worse. blizzard conditions to the west, massive flooding to the east. for millions caught in the middle, well, a mess getting more messy. 38 deaths now blamed on hurricane sandy which turned into a super storm. more than eight million people
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are without power through much of the east coast. that number could climb. new york city's entire subway system is knocked out. it could stay that way for up for five days. across new jersey, the governor christie says four shore times are devastated. >> houses are moved off of the foundation, houses are in the middle of route 35. the amusement pier at seaside park half washed out. the roller coaster is now in the ocean. the level of devastation is unthinkable. >>neil: unthinkable and for now irreparable and it is not over yet. rick? rick: the damage to point pleasant beach are stunning and sad. this town was not the worst hit by far. the boardwalk in some sections
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is completely destroyed and this ocean front hotel, the white sands half a million in damages. the deck is torn up. the restaurant is trashed. fences have come down. believe it or not, this is the swimming pool. it is filled with sand that came off the beach that made up the dunes they thought protected the homes, wiped out and pushed this way. you can see more damages here. the sand in the street is on ocean avenue and if you look down along the coast, you will see maybe a rescue helicopter and, also, homes that suffered significant damage, the gray house with the front of it ripped off and a number of houses like that and we walk this way, and you look down the street toward the west, toward the train track, you will see a flooded road. this are many homes in a couple of feet of water in this seaside community and this is one of many that suffered extensive
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damages. a couple of million homes without power just in the state of new jersey alone and no one can begin to put a price on the damage here but for the hotel, at least half a million. >>neil: all right, rick, thank you very much. in the meantime the storm is creating a nightmare for emergency workers everywhere and anywhere. in new york city the water is rushing into the tunnel in lower manhattan and it is filled with water. at least seven other subway tunnels are said to be flooded. in kinds, new york, 80 to 100 homes, hit by fire. the area looking like a war zone. atlantic city battered by sandy and a huge part of the boardwalk is gone, missing. early reports say the casino may have survived without major damage but, good luck, seeing any customers. in ocean city, maryland, streets looking more like rivers, with massive flooding knocking out power.
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that is the story across the border states, as well. the former fema director on the recovery nows underway, as government agencies prepare to re-open tomorrow. just hearing from washington, dc, the federal workers can return to their desks tomorrow but in the meantime, a real mess for rescue officials now. how long do you expect it to last in. >> i was surprised to hear the path station, for example, could be five days away, my guess it really could be longer. this is the real difficult part for people, neil, and that is their frustration levels will be high but i remind people again, the emergency workers, the utility workers, the health care workers, all of those people want to fix this as quickly as they can. take the path station, for example. you have to first get the flood waters out assess the damage and then repair the damage. if you do that in the path
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station it is the same thing for a home, office, an apartment building, so people have to be patient. >>neil: you helped us last night on fox business where is the line of comand and how does it work among local state officials? i bring it up because in new jersey the governor there, chris christie, came to loggerheads with the mayor, the democratic mayor of atlantic city because the governor said everyone clear out of the coastal towns including the famed and those prone to flooding, and the mayor essentially said, no, you don't have to, obviously the folks needed to be residued and they were vulnerable to the flood and it caused some problem between the two. what is if you are a citizen in a state where the governor, the mayor, might be arguing you
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might say the better part of valor is take the most cautious and safe stand, right? >>guest: not only the most cautious and safe but i would say this, the response to this disaster has been very good. it has been good. but when governor christie who is a great guy, and this mayor, who i don't know at all get into a spat that spat understoods to be done behind doors with one message sent to the public. at this time i encourage everyone and i am certain that mayor bloomberg could disagree because he thing he is in control of the city and he really is, the people ought to listen to the governor. let me tell you why. because the governors work closely with the feds and they are the go-between, between the feds, the states and municipalities. it is my position that the governors are the ones who have the resources, they have the legal authority, we ought to listen to the governors and
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paying attention to what they do. >>neil: you mentioned everyone has been working with each other and governor christie was complimentary of the help from washington and particularly the president, this immediate funding for hard hit areas, i guess that was lightning quick for a lot the states. what do they do with that right away? they put that into rescue efforts, rebuilding efforts. >>guest: what it does, it is like a pressure valve for state and local governments. it says we know you are going to be spending this money, don't focus on the budget and just do everything that needs to be done and we will only in and become fill the dollars. i heard today that there is $8 billion available in the fema disaster relief fund. that may or may not be true in terms of how much is earmarked or allocated but irrespective of that what the presidential declaration says to state and local governments, go forward,
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do what needs to be done, and we will come in and sit down with you and figure out who owes what and pay the majority of that bill. >>neil: thank you very much. i enjoy having michael on during times like these because contrary to what you might know ahead of hurricane katrina he was the only one sounding dramatic alarms as to the levees getting potential breached in new orleans and history has not been kind to you michael but --. >>guest: you have been very kind and i appreciate it. >>neil: i mentioned governor christie, in new jersey, the governor has enormous sway even moving halloween. there is talk now that governor chris christie, a father, wants to push back halloween to celebrate trick or treaters going out on saturday november 3rd instead of tomorrow, october 31st, formally halloween, and, i guess, if the governor says that is what it is
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going to be, that is what it is going to be so if you are trick or treating in the garden state, saturday is the day. and now, charles gasparino will have more, i love charlie to death, he is one of the best reporters on the planet before none but here is where he bugs we are are stormed about the stock exchange being shut down. >>guest: i don't want them to set up their trading desks at high tide. it is 11 years since 9/11, where
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is the contingency plan? this is a global storm h -- stock market and there is a big country that was not affected and the new york stock exchange has electronic trading network, located in chicago, of all places, and every major firm has offices outside of new york, why can't, where is the contingency plan? >>neil: so thousands do not need to come to work. >>guest: why could you not have thought about what to do five days ago like goldman sachs thinking well, maybe we could operate out of dallas? i don't know. chicago? >>shepard: you put more value in dollars than human beings? callous and heartless. >>guest: have you heard of a computer? >>neil: those that work like a charles. >>guest: or the light bulb? the electric switch?
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>>neil: enjoy your final appearance. legislation is something called a "telephone." >>neil: early on, you condemned my guest for the way this was handled. >>guest: the market structure --. >>neil: fine, fine, fine, but then you said on fox business but you have nothing against mary shapiro. >>guest: you are making a stupid argument. i didn't say you are stupid but you are making a stupid argument >>neil: we have the worse storm if this area. >>guest: that is why we should use a contingency plan. >>neil: you are ruled by the almighty dollar. that could make you the best reporter on the planet but it reinforces the notion that is all you about. >>guest: want did buy the brooklyn bridge? i will sell it to you. the only thing worse --.
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>>neil: no, no, no, no, no, whatever you say --. >>guest: the only thing worse is con-ed is a dopey company, and they have an electrical plant on 14th street that is always closed. >>neil: you are trying to justify your simple thoughts. >>guest: you don't know my simple thoughts. >>neil: why want to know. we disagree on this, and you know, it is a qualm among friends. but he just made his last appearance. a lot is ride on a smooth open of the markets tomorrow with investors watching closely and we will have the latest on this in preparations beginning at 8:00 p.m. tonight and i am back tomorrow at 9:00 a.m., presumably with this knuckle head. we have to change this quickly. but a special report ons if back to business, we are all over your money and we might respectfully disagree but i don't think we are ever
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disagreeable. the markets, then, will be up and running but will the election?
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>>neil: if you are out of power, you are watching me on batteries, but the latest numbers in follow show 8 mill homes without power because of the storm and three million in new jersey alone. on the phone is from one of the biggest utilities in new jersey. and we are getting information from long island that the power authority going to likely be out of power for another ten days. why is it so long in so many areas? >>guest: that is certainly understandable. the storm caused wide-spread damage. the company has 930,000 customers out. we serve about 1.1 million. so you can see that is most of our customer base without service right now.
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much of the problem is centered around our big transmission lines that came down. we have to make repairs to those first before we can route the power down the street to the homes. >>neil: now, it seems to be taking much longer than in prior storms, obviously, because of the severity that is not too surprising but, why so long in so many areas? >>guest: well, you have to rebuild your electrical system if many areas of the state. that means putting up new polls and new wires and thousands and thousands of miles of wires and thousands and thousands of polls. before you start that work, you need to assess the damage. we are fly through our service area to inspect the damage is we know where to concentrate. >>neil: do we do like japan, they make every successive building more and more not
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earthquake proof but more resistant? or do we build the same polls and lines and hope and pray they not knocked down again. >>guest: well, we put in the specific size poll to hold specific weight of wire. that equipment is new. we inspect it to make sure it is in good condition but 90 percent of our electrical equipment is outside and can be impacted by the weather. the wind gusts at 70 or 80 miles per hour is a lot to withstand. >>neil: you are right about that. good luck to you. that is just one problem and now fema has plans to deal with any sort of election day disruptions because of sandy. could the disruptions involve voting delay? is that legal? judge? >>judge napolitano: you never is the easy questions, it is enormously complex question.
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the voting for president of the unis not exactly for the president. it is for electors to choose a president. we are familiar with the electoral college, after gore won the popular and bush won the electoral vote. so we start with that, we do not elect the president we elect electors, the state can choose to designate the electors however they want. the electors for obama or for romney, but if a state wanted to the legislature could choose the electorate rather than having election. they would be voted out of office but they could do it. with those premises in place, the question is, can a state delay an election? yes but not for president. federal law has said you must choose your electors on the first monday after the first tuesday of november. this year, november 6. so the state of new jersey, where we live, for example, could delay congressional elections by a month because
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they felt candidates could not campaign because of the hurricane but it could not delay the presidential election since that is the date set by congress. so, we have to hold it on that date or hold a substitute for it, like a vote if the legislature on that date. >>neil: what is the likely hood that 20 states, says were affected by the storm in one way, shape or form, not that the entire state is affected by power outages and it is mostly in new jersey or connecticut or the other states is there anything the federal government can do to say, all right, to be fair, we pushed this back a week, that would be unprecedented? >>judge napolitano: it would. it would be impossible because it would require the congress, everyone in the house of representatives up to re-election, a third of the senate is up, and the president will resume campaigning, to stop what they are doing, come become to washington and change federal election laws retroactively and that has never happened in
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american history and it is not likely to happen. >>neil: if you cannot get to the polls and there is no electricity and you vote it is by paper ballot it becomes messy but we have a way of dealing with that, a longer count. >>judge napolitano: i can tell you from when i was on a bench if a person came in with a weather excuse, too bad. that is the law in new jersey. that is the law that exists everywhere in the union. >>neil: if they said there was a firestorm. >>guest: an early snow, tough it out. >>neil: you are worse than gaps rain. >>guest: you have to be. >>neil: like shooting the easter been any. new numbers on early voting are in. which candidate has the win so far? karl rove knows. what happened when you made that call? first of all, we had to clarify immediately that the house would be mine. what did the one reverse mortgage then do for you?
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>>neil: let the force be with george lucas. disney is paying lucas film $4.05 billion the production company behind star wars and it will make another movie in the "star wars" and it is set to release in 2015 with follow-up releases of episode 8, episode 9,ry two or three years, capping a disney brand assault including pixar and marvel and abc, and george lucas will be involved in a creative role said it is time to pass "star wars" to the new generation of filmmakers adding could i get filter rich if i wanted to? no, he didn't say that, not really. i don't even like that series, nothing against it but.
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anyway, in a poll showing that people have all right voted so that the governor is ahead by six points 52 percent to 46 percent. early voters helped obama win in 2008 what if they are doing the reverse in 2012? karl rove is looking at this. what do you make of this, karl? karl: as you say those who have voted one in six voters who said they voted they gave mitt romney a six-point margin, less than one out of five voters say they are going to vote before election day, they split evenly between president obama and governor romney which tends to indicate that at least the enthusiastic el her voters are republican and the democrats have a prove with a lack of enthusiasm among their people and finally on election day the people would plan, just less than two-thirds 63 percent plan to vote on election day, they split for governor romney by the same number six points 51 to 45
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percent so at least according to gallup this looks good. it is also borne out by if you look at the battleground state roughly 11 million, rather, 11 percent advantage for democrats either voting early or casting absentee ballot in 2008 but is far through roughly the 27th, it has been a decline of seven points if president obama declines seven point he is in trouble one with 53, dropping seven gives him 47. >>neil: how do you think the storm affects this in anyway? karl: where it is difficult to cope. romney will be hurt by heavy snow in unseasonably heavy snow in far southwestern virginia,
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coal country, inhospitable to president obama even though it tens to be democrat but it will depress the vote there. communities that are flooded, communities where it will be difficult if people to get around, in places like new jersey and eastern pennsylvania and new york and connecticut, these could tend to be more democrat areas and people would have difficulty there and it would depress president obama's turn out but we have a long time between now and election day and people fired up about the election one way or the other and i suspect most will try and make their way to the poll. >>neil: but if power is out in a lost the states and they don't extend the election that would be unlikely, you are dealing with paper ballots and manual accounts and it is a long night, right? karl: very long. most of the ballots tend to be counseled in a precinct level so it is manageable to get them done in a couple of hours and
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get the ballots and the tallies submitted to the counties but a lot of counties in the affected region are having to dust off contingency plans and print ballots and have alternatives to scan or to use machines to do this and have to fall back on paper ballots. it will mean a longer election day and long are lines in the communities. as you say, a longer count. >>neil: we will watch closely, thank you, karl rove. karl: you bet. >>neil: we have special election cover on saturday at 10:00 a.m. eastern with a two hour special and back at it at 4:00 p.m. on "your worlds," a special sunday show and that leads up to nonstop election coverage taking over at 6:55 p.m. eastern until, well, however long it takes, we will monitor global reaction and we will be looking at this from,
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>>neil: this shows how widespread sandy's damage was
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from outside cleveland where the waves are pounding but this gives you an idea how widespread the storm was covering an area close to 1,000 miles involving 20 states and all of this coming at a time when travel in and around the country has come to a stop, the number of affected cancel flights north of 18,000, and some airport officials say it could take up to a week, or more, for airlines to be fully up and running. and aviation expert on what to expect. michael? >>guest: well, this time the airlines prepared pretty well. the airline responsed quickly. getting in an airplane in the sky makes money. when they it is they get nothing. la guardia was flooded sow have landing lights and directional signs and jetways covering in salt brine. it could be the airport facilities that will slow it
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down rather than the airlines. >>neil: is, how do they handle all of the delays, people who the last 48 or 72 hours have been having to sit and wait when flights are showily resumed in the areas that were not so affected, a lot of that depends on if a jet can make its way to them, right? >>guest: absolutely. it is like if there are only 16 gates at la guardia rather than the normal amount, it will be slow. we do not have a lot of stranded people because they could not get to the destination to get stranded in the first place. it will come back quicker than you think but the issue is how badly damaged arrest the airports in the northeast and that be the termination of whether we have everything back to normal by sunday or when. >>neil: when we covered it last night at la guardia and john f. kennedy and newark, that was just in my neck of the woods and we looked at how the runways
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were getting pounded at reagan national in washington, these are not quickly fixable situations, right? >>guest: if you have the landing light system go out because it has been flooded, which i don't thing will happen, that could be a couple of days to fix and make sure it is right so we have a safety issue to come back, my feeling is the airlines will be ready probably before we can fix the facility that have been damaged by flooding at the airports. >>neil: thank you very much. michael. and sandy is bigger than the northeast what we about to show you will really emphasize it. [ male announcer ] are you considering a new medicare plan?
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johnson. bill, good do get your read on things. what is the impact of all of this? >>guest: the most immediate impact is to the families and people affected by this. i wish them all the best. but generally from our business, the big issue is going to be transportation logistics getting product in and out of the tri-state area for sure and all the east coast for the next 72 to 96 hours. beyond that, it will be solvable and i don't think it will have long lasting consequences. >>neil: you wonder if a region or a metropolitan area is without power nothing is getting done if that neck of the woods, now if it is a lot of metropolitan areas in the same situation, then what? then what? i guess that is the ultimate issue, how long this drags on. i don't think anyone knows. the ultimate issue is to define
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ways to get product to the super marks so they can get to the consumes and we will solve a lot of logistics the next couple of days. obviously things coming from long distance will be affected by air transportation and by the inability to bring ships and come in from the ocean. ultimately we will find a way to get through this either by truck, by rail, some way. but there is in doubt there will be some areas that are going to be longer to fix than other areas. my daughter lives in new york and her birthday is today and she has been without power for 24 hours so i feel badly for all the people there but it is going to be day-by-day and case by case. >>neil: happy birthday for her but not so happy for a lot grocery store customers who see sticker shock because to get the goods the price will ratchet up,
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but i don't think it will go down in price. what do you envision? you will see short time pricing that goes up but long term it will settle back down. october will prove to be a good month for a lot of retailers and a lot of food companies as people stock up and buy ahead of the storm. the first couple of weeks of november will be slow and then it will pick up. the biggest issue is going to be in the restaurants. it has been difficult to get to the restaurants and when they lose business over an extended period time they cannot pick that up. retailers can get it back over time as people restock their pantries. >>neil: we were showing empty grocery store shelves right after my wife was gone shopping ahead of the storm. how do you think the president has done through this? >> he has performed like a president should perform. ultimately i think the big issue we are going to face next week
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is the leadership issue and that will resolve itself in terms of the election. launching into sort of a political foray here, whatever happens the next four years it has to be different than the last four. einstein said doing things the same way and expecting different results is the definition of insanity so nothing has to change. most presidents rise to crisis and president obama is no different than most in that case. that would be very good timing. >>guest: many in the american people have made up their mine. >>neil: we will see. bill johnson, hope your daughter enjoys her birthday with or without power. thank you, bill. in the middle of the disaster from their respond to there. years of our government employees insurance company,
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>>neil: chris christie is a powerful governor in the state of new jersey, so powerful he can move holidays and he wants to move halloween which is celebrated around the country tomorrow, october 31 but because of downed power lines in the state and dangerous conditions throughout the state the governor wants to push it back to saturday to have kids celebrate on saturday, november 3rd. a number of school districts have sent their approval or disapproval as a parent who gets the instant alerts. for my kids and their schools many of them repeat their support for that, it would be safer and my kids' school district and a hot of others, my assistant and others are getting the same notices that support the move to move halloween. he is the only governor i know of who already has thought ahead
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to thinking that tomorrow is not a good day to trick or treat and saturday would be day to celebrate. that is assuming by then power is back in the state but chances are it would be safer at that point to trick or treat. this is not just the kids' concern, you know we have the condition about the candy, whether it is tomorrow or saturday, you get some but daddy gets more. the president is canceling a third day of campaigning to monster the storm's response and is getting good grades on his response. and pat, what kind of response? >>pat: so far, i don't know if it is storm related or not but his approval rating which had been dropping went up a couple of points from 47 to 49 and
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gallup has stopped the poll. behood a big shift and he got back up to 50. >>neil: so that could be prestorm. >>pat: it could be or the bump i have been talking about. it could be he is locked in there at the moment and it is --. >>neil: is his gain romney's loss? >>pat: it may not be necessarily real. it may not be moving the vote. all of this is just like you talked about which i love christie's idea move halloween to saturday as long as daddy gets more. >>neil: already the easter bunny is late. >>pat: but people in the affected areas and i heard karl rove talking about how it affects different people.
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but people right new are worried about fundamental things, no one in your home state has electricity. if it traps on and you take it out it don't improve your disposition, i don't know what does. i lived through hurricane hugo for three weeks without electricity and we had a subsequent operator which was a pain in the butt but three wees without electricity and people were tired of it at the end. so we don't know what will happen with the get out to vote. but there is a force at work here. >> here is a quick read i got: near term helps the president, and longer this drags on, it hurts the president. but near term and long term now are a week. >>pat: we are talking days. six days.
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>>neil: what happens? the conventional argument is, it is a move south. >>pat: remember the agree cartoon in the "new yorker" in 1969 with lindsey, a legendary cartoon with a vote are want dog vote for pococino. look, most people may up their minds but the question is town out as much as anything. who has the more rabbit -- rabid backer. >>pat: we think romney has more intense feeling than the president. that is why he put so much on the ground. but just like the states are affected they have had a last advertising and the real movement is going on as we have talked about in minnesota, oregon suddenly got close.
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and minnesota, michigan, pennsylvania, but, now they have been snowed under, and these are states, including wisconsin, some of the plains have expanded and romney pac is going inthose states with money, but i don't know. >>neil: you are not of the camp that says more of the president's potential supporters have been inconvenienced than mitt romney? >>pat: no, regionally. i said today it could while not affecting who wins the electoral votes in new jersey, new york, connecticut, whatever, it can affect the popular vote total because people in those states are saying, well, the president will win anyway, do i need to vote. whatever. so remember we have a lot of these places where people are saying, well, you know it will not make a difference. that could impact the over all numbers. >>neil: when the president's
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approval rating jumps for whatever reason you said something interesting it doesn't mean the other guy's approval has moved. could you have a case where both are sliding at the same time? >>pat: romney is in ohio raising goods to send to people and that is a heck of a good idea. that is the best he can do. he is not president. the president is locked in, but the problem with these things, people are smart, they want the federal government to what it can do but it is not a foreign crisis, unless it is a katrina like thing this is a governor, this is christie and cuomo, the governors doing terrific job and mayor bloomberg, that is the focus. >>neil: always a pleasure, thank you. we have a lot more coming up including what will be resuming of wall and broad being back to
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i approve this message. >> neil: all right. crisis always breed crisis. for a lot of folks who were dealing with sandy, getting 911 calls through the call centers, a lot of those calls were routed and dropped and/or lost, coming from a federal communication official via reuters here. if it brought on outages and knocked a number of these calls out of the system. hard to say whether that meant people just redial 911 to try to get back in queue. but it was not unusual particularly in monitoring states like new york and new jersey last night. a lot of calls to 911 were not super emergencies, so michael bloomberg said just save it for super emergencies or those where you feel your life is threatened. few obviously, the phone banks were flooded, a lot of the calls -- no pun intended by the way -- were overwhelmed. some when they were bumped
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around knocked down. we'll keep an eye on this how widespread it might have been or might still be. it's official. trading is back tomorrow. for the latest after two days of no trading, sandra smith from the chicago mercantile exchange. >> after two days of trading, wall street will be open for business officially tomorrow. as new york slowly recovers from the wreckage of the hurricane sandy. the new york stock exchange and the nasdaq, by the way, both of the exchanges planning to resume normal trading after the storm flooded parts of manhattan and prompted widespread power outages. the stock market closed for unprecedented two days as the hurricane battered the east coast. that forced thousands of people to evacuate and cause millions of dollars in damages. remember, it's quite rare for the stock market to be closed for two consecutive days. the last time that the nyse did this, was all the way back in 1888 for weather-related
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reasons. wall street spent the past two days testing system and assessing markets to ensure a smooth return to trading. that all traders are hoping for. the nyse is set to open both electronic a their electronic platform as well as the physical trading floor. the exchange is planning for the return of almost 200 or so floor traders. although, some of the traders will struck to get back to work because of power outages an obviously some canceled transportation. by the way, neil, stock index futures that trade right here at the cme group in chicago, they, too, will resume trading tonight. the pit session will resume trading tomorrow along with the stock market as well. back to you. >> neil: all right. thank you very much. speaking of which, live tonight on fox business, monitoring that futures trading and what it's going to tell us, covering it live at 8:00 p.m. on fox business. back with you 9:00 a.m. eastern time for "special report." back to business that we will be doing on fox business. e

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